Walmart, Costco to Work on Plan to Curb Food Inflation, Canada Minister Says
- Food prices are rising faster than the rate of inflation
- Consumers ‘want to see action,’ industry minister says
Executives of five large grocery chains including Walmart agreed to work with the Canadian government on a plan to stabilize food prices, the country’s industry minister said.
Photographer: Jordan Vonderhaar/BloombergThis article is for subscribers only.
Executives of five large grocery chains including Walmart Inc. agreed to work with the Canadian government on a plan to stabilize food prices, the country’s industry minister said.
Francois-Philippe Champagne said he held a “constructive” meeting Monday with senior executives from Walmart, Loblaw Cos., Metro Inc., Empire Co. and Costco Wholesale Corp. to discuss how to temper rising prices. Food inflation was nearly 8% in the past year.